Cgfm exam 4 - Study guides, Class notes & Summaries

CGFM Exam 4.

CGFM Exam 4 Question and answers 2023 verified to pass

CGFM Exam 2 I 1.The Defense Logistics Agency holds jet fuel as inventory, which it sells to support flight operations. The table on the left provides beginning/ending fiscal year 2017 inventory levels and purchase information. Assuming the agency uses the FIFO inventory valuation method, what was the cost of goods sold for jet fuel in fiscal year 2017? - ANSWER-Correct Answer: $133.50 I 2.In financial reporting, consistency of communication means - ANSWER-Correct Answer: if accounting pri...

CGFM Exam 3: Section 1, Chapter 4 - Acquisition Management Questions and Answers Graded A The four basic phases in acquiring goods and services are? 1) establishing specifications 2) soliciting supply sources 3) awarding contracts 4) monitoring contractor performance 2 basic methods for soliciting potential contractors (1) formal advertising through invitations for bid (IFB) and (2) a less formal solicitation through requests for proposal (RFP). The method that is used largely depends on whethe...

CGFM Exam 2 Questions and answers/ rated A+ I 1.The Defense Logistics Agency holds jet fuel as inventory, which it sells to support flight operations. The table on the left provides beginning/ending fiscal year 2017 inventory levels and purchase information. Assuming the agency uses the FIFO inventory valuation method, what was the cost of goods sold for jet fuel in fiscal year 2017? - -Correct Answer: $133.50 I 2.In financial reporting, consistency of communication means - -Correct An...

CGFM Exam 3: Section 1, Chapter 4 - Acquisiton management. Questions and answers/ The four basic phases in acquiring goods and services are? - -1) establishing specifications 2) soliciting supply sources 3) awarding contracts 4) monitoring contractor performance 2 basic methods for soliciting potential contractors - -(1) formal advertising through invitations for bid (IFB) and (2) a less formal solicitation through requests for proposal (RFP). The method that is used largely depen...

CGFM EXAM 3 2023 NEW PRACTICE SOLUTION GRDED A CORRECT ANSWERS.Three Broad Government Spending Purposes - 1) Current Operations 2) Capital Outlays 3) Debt Service Present Value Analysis - Three Components - Determines what $$ Rec'd in Future is Worth Today 1) inflation component - year over year loss in value 2) enterprise component - inherent risk 3) unique component - Budget Accounting and Procedures Act of 1950 - Requires the head of each federal agency to establish and maintain I/C...